BANKING AFFAIRS

Detailed explanation-1: -Write “Pay to the Order of” and the third party’s name below your signature. It’s important to write the name of the person that you are signing the check over to in the endorsement area under your signature. This signals to the bank that you are endorsing the transfer of ownership for the check.

Detailed explanation-2: -Some banks will allow you to sign a check over to someone else, also known as a “third-party check.” To sign a check over to someone else, sign the back of the check and, depending on the receiving bank’s rules, you’ll have to write “Pay to the order of: Name” or have the recipient sign their name under yours.

Detailed explanation-3: -Blank or General Endorsement. Full Endorsement or Special Endorsement. Conditional Endorsement. Restrictive Endorsement.